This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

5 Fast Ways To Ease Money Worries

"Once you are free of credit card debt, apply that money to retirement savings the same way as the emergency fund savings ... automatically," advises Botkin. Set up another paycheck deduction that goes straight to an IRA, 401(k) or pension account.

Botkin says that any windfall (tax refund, bonus, etc.) or extra money found from cutting expenses or paying off a car, credit card or mortgage, should be deposited in retirement accounts as early in the year as possible, instead of waiting until December to make a contribution. The earlier and the more you deposit, the more the magic of compound interest adds to your balance.

5. Establish guards against scams

"Be vigilant in protecting your personal information from scammers," says Botkin. "I advise keeping tabs on your credit report monthly for a fee (instead of the free service once per year, or even every three months) via a reputable credit report monitoring service."

Taking a few minutes to address these tasks may also help protect you:

  • Install a pass code on your phone to protect your personal information should the phone get lost or stolen.
  • Tear up and shred any pre-approved credit applications you get in the mail.
  • Check every bill or statement for unauthorized charges and fees.
  • Never click on any links in emails from financial institutions. Always call the institution or log-on to your account directly.
  • Never give out your personal information in public or on a public computer.

Taking the first step to address worries can be difficult, if only because it forces you to focus on those worries. But if money is a prominent source of your anxieties, taking these steps may quickly help ease some of your worst fears.

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs